Afrinvest Stock Recommendation for the Week 290321

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Monday, March 29, 2021 / 12:50 PM / by Afrinvest Research / Header Image Credit: Titan FX


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Market Last Week (Our Observations)

  • Last week, the local bourse recorded gains on 3 of the 5 trading sessions as investors cherry-picked bellwether stocks. Consequently, the NSE All-Share Index rose 2.2% w/w to settle at 38,382.39 points, YTD loss improved to -2.6% while market capitalisation increased N436.3bn w/w to settle at N20.5tn.
  • Performance across sector coverage was impressive as all indices ended positive w/w. The Industrial Goods index led the pack, up 2.9% w/w. Trailing, the Consumer Goods index rose 1.4% w/w. Similarly, the AFR-ICT and Insurance indices inched higher by 0.9% w/w apiece. Finally, the Oil & Gas and Banking indices advanced 0.7% and 0.2% w/w respectively. 
  • The top performing stocks for the week were STANBIC (+30.0%), JBERGER (+20.9%) and GUINNESS (+18.6%) while LIVESTOCK (-15.5%), CHAMPION (-13.1%) and MRSOIL (-9.7%) were the laggards. 

 

Market This Week (Our Expectations) 

  • The Afrinvest Weekly Sentiment Indicator waned to 1.1x from 1.2x recorded previously.
  • This week, we anticipate profit taking activities in the market. 

 

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

NB: Rate on ₦100M and above are negotiable and all rates are valid ONLY for fund received on/before 29th March 2021.


Proshare Nigeria Pvt. Ltd.


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